Hercules Offshore (Nasdaq: HERO) is expected to report Q2 earnings on July 31. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Hercules Offshore's revenues will grow 24.9% and EPS will turn positive

The average estimate for revenue is $223.4 million. On the bottom line, the average EPS estimate is $0.06.

Revenue details
Last quarter, Hercules Offshore reported revenue of $205.3 million. GAAP reported sales were 43% higher than the prior-year quarter's $143.3 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at -$0.02. GAAP EPS were $0.22 for Q1 compared to -$0.28 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 36.4%, much better than the prior-year quarter. Operating margin was 6.9%, much better than the prior-year quarter. Net margin was 17.1%, much better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $921.0 million. The average EPS estimate is $0.26.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,549 members out of 1,614 rating the stock outperform, and 65 members rating it underperform. Among 338 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 326 give Hercules Offshore a green thumbs-up, and 12 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hercules Offshore is outperform, with an average price target of $8.40.

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